subject: How Do You Know What's Legit: Cash Advances [print this page] Money transactions can be a big gambleMoney transactions can be a big gamble. Protecting your own money is often the most worrisome. With paycheck loans, you want money security. With these quick loans, you want to be smart in handling your money.
First of all you want to know that the company you're borrowing from is legitimate. If you go to a payday loan business, it's pretty easy to judge. Analyzing a cash advance site online can be more difficult. When lenders promise easy money in hard times, many people turn to them as a lifeline. If you're going to get an online cash advance, be confident in the business you choose. A good sign is if the lender posts or sends you its lending policies. Before you borrow money, make sure you know how much you are expected to repay. Only work with the lenders who value openness and honesty.
A good lending history is also a worthwhile characteristic. Although a company may offer good loan options, it's important to know if it does so responsibly. A hassle-free process shouldn't be a substitute for low or no standards. The most fit lenders don't make claims that they can't actually meet. The Internet is a great resource to judge a payday loan site's character. There are a handful of different sources you can use to find helpful information about payday loans.
From the beginning one of your goals should be to avoid repaying a loan late. The nature of the cash advance business is to impose harsh penalties for late payment. Should you find yourself with late payments, you need to know your legal rights. At no time is a company allowed to threaten you with imprisonment or any other harassment. Also, a legitimate loan representative will most likely not ask for personal or financial information over the phone at this point. If you ask, legitimate lenders should be willing to send you information in writing. There are several government agencies where you can report illegal practices.
There's one vital key to handling loans: be smart. Don't be afraid to ask questions or do a little research. It's your money and no doubt you want to protect it.
